GoDaddy Inc. (NYSE:GDDY) Given Average Recommendation of “Moderate Buy” by Brokerages

GoDaddy Inc. (NYSE:GDDY) has earned a consensus recommendation of “Moderate Buy” from the fourteen analysts that are presently covering the company, MarketBeat reports. Five equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $171.38.

A number of analysts recently weighed in on the stock. Raymond James raised their target price on shares of GoDaddy from $150.00 to $175.00 and gave the stock a “strong-buy” rating in a report on Friday, August 2nd. Cantor Fitzgerald restated a “neutral” rating and set a $170.00 target price on shares of GoDaddy in a report on Monday, October 7th. Royal Bank of Canada raised their target price on shares of GoDaddy from $175.00 to $190.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Benchmark raised their target price on shares of GoDaddy from $186.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Finally, Piper Sandler raised their target price on shares of GoDaddy from $172.00 to $176.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st.

GoDaddy Price Performance

NYSE GDDY opened at $182.95 on Friday. GoDaddy has a 12 month low of $91.68 and a 12 month high of $190.21. The company has a debt-to-equity ratio of 10.61, a current ratio of 0.56 and a quick ratio of 0.56. The firm has a market capitalization of $25.68 billion, a PE ratio of 14.14 and a beta of 1.11. The company’s 50 day simple moving average is $162.10 and its 200 day simple moving average is $150.60.

GoDaddy (NYSE:GDDY) last posted its quarterly earnings data on Wednesday, October 30th. The technology company reported $1.32 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.07. GoDaddy had a net margin of 41.74% and a return on equity of 267.29%. The business had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same quarter last year, the business earned $0.89 earnings per share. The business’s revenue for the quarter was up 7.3% on a year-over-year basis. As a group, equities research analysts forecast that GoDaddy will post 4.95 EPS for the current fiscal year.

Insider Buying and Selling at GoDaddy

In other news, COO Roger Chen sold 1,000 shares of the firm’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $152.17, for a total transaction of $152,170.00. Following the transaction, the chief operating officer now owns 187,632 shares in the company, valued at approximately $28,551,961.44. This trade represents a 0.53 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Mark Mccaffrey sold 5,500 shares of the firm’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $164.75, for a total transaction of $906,125.00. Following the transaction, the chief financial officer now owns 101,286 shares in the company, valued at $16,686,868.50. This represents a 5.15 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 28,844 shares of company stock valued at $4,619,397 in the last quarter. Company insiders own 0.61% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Vestcor Inc raised its holdings in shares of GoDaddy by 1,156.5% during the 3rd quarter. Vestcor Inc now owns 31,249 shares of the technology company’s stock valued at $4,899,000 after purchasing an additional 28,762 shares in the last quarter. M&T Bank Corp raised its holdings in GoDaddy by 1.5% in the 3rd quarter. M&T Bank Corp now owns 9,539 shares of the technology company’s stock worth $1,496,000 after acquiring an additional 145 shares during the period. Barclays PLC raised its holdings in GoDaddy by 28.7% in the 3rd quarter. Barclays PLC now owns 447,425 shares of the technology company’s stock worth $70,147,000 after acquiring an additional 99,734 shares during the period. Nomura Asset Management Co. Ltd. raised its holdings in GoDaddy by 31.9% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 82,586 shares of the technology company’s stock worth $12,948,000 after acquiring an additional 19,950 shares during the period. Finally, Y Intercept Hong Kong Ltd bought a new position in GoDaddy in the 3rd quarter worth $1,666,000. Institutional investors own 90.28% of the company’s stock.

GoDaddy Company Profile

GoDaddy Inc engages in the design and development of cloud-based products in the United States and internationally. It operates through two segments: Applications and Commerce, and Core Platform. The Applications and Commerce segment provides applications products, including Websites + Marketing, a mobile-optimized online tool that enables customers to build websites and e-commerce enabled online stores; and Managed WordPress, a streamlined and optimized website building that allows customers to easily build and manage a faster WordPress site; Managed WooCommerce Stores to sell anything and anywhere online; and marketing tools and services, such as GoDaddy Studio mobile application, search engine optimization, Meta and Google My Business, and email and social media marketing designed to help businesses acquire and engage customers and create content.